Charts/TA

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M

MirosWife

All Australian
Jul 31, 2021
904
582
AFL Club
West Coast
Not sure if there are any professional chart folk out there.

I've joined some TG channels so will share what i have found on there and what i have put on. The channels i ma following ate CoinGape and GDAX Coinbase Pro Signals

Im by now means an expert, im just passing on what i get fed and putting small amounts as interest to better by TA.

EGLD/USDT
Short Position
Enter 325-315
Take Profits 300/280/260/240
Stop Loss 345

I have open longs at the moment on CVC, CHZ & LINK.
CHZ is in the red, the other two are in profit.

Happy trading kids.
 

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BACCS said:
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Wouldn't say it reversed, but it halted and is considering turning around. * I hate how much BTC rules the roost. I'm sure all of us have had dormant coins for weeks or months(and some of you probably years) and they start to get a bit of steam up and then BTC does it's thing and puts it back to sleep for weeks, months (years).
 
The Dice Man said:
Wouldn't say it reversed, but it halted and is considering turning around. fu** I hate how much BTC rules the roost. I'm sure all of us have had dormant coins for weeks or months(and some of you probably years) and they start to get a bit of steam up and then BTC does it's thing and puts it back to sleep for weeks, months (years).
Click to expand...
It feels like an accumulation day for the whales now that they managed to get a 10% price dip. As I said above, a lot of big shorts are opening at extremely strong support levels on HTFs, these will get squeezed like a mother *er when the market reverses (which it will). Leverage traders very rarely seem to learn their lesson in the crypto market, this type of action in the leverage market has happened after every major volatile move down, it never ends well for those shorting after the major move down.
 
The end of September, October and now November are all proving to be s**t for prices. Whatever happens in the first half of the month seems to be eradicated quickly in the 2nd half of the month. Things looked to be on the way up again yesterday, but any of these positive price action moves are short term this week. The silver lining is that BTC is still holding price around the strong support level zone and so is ETH, any breaks of these on the daily/weekly and it’s hard to see a quick recovery.
 

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BACCS said:
So many whales opening up big short positions on BTC and ETH again today, just like yesterday. There is either a classic short squeeze coming very soon, or prices are trending lower for the rest of the month.
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I sold 20% of a few of some of my major holdings tonight because I reckon we are (BTC) going lower. I have good positions in SAND and RMRK that are keeping me ok.
 
The Dice Man said:
I sold 20% of a few of some of my major holdings tonight because I reckon we are (BTC) going lower. I have good positions in SAND and RMRK that are keeping me ok.
Click to expand...
I honestly think that's a mistake, but it's your call. At the absolute worst this dip could go to 52-53k, I just don't see the benefit of selling after a 10-15% dip across the major coins. I had a look back to last November, on the 25th there was a dip of 15% in a day for BTC. Price then bounced 21% over the next 4 days, went through sideways accumulation action for about 10 days, and then ripped 140% over the next month.

It has been a bearish week, but in a bull cycle, these never last too long (unless they're major corrections of 50% like in May, which took 3 months to recover from as it broke the bull market structure). I've been through enough of these dips (and I've only been in this for 6 months!) to know that price always bounces when the market looks the most bearish (if it is a bull market), just like today.
 
BACCS said:
I honestly think that's a mistake, but it's your call. At the absolute worst this dip could go to 52-53k, I just don't see the benefit of selling after a 10-15% dip across the major coins. I had a look back to last November, on the 25th there was a dip of 15% in a day for BTC. Price then bounced 21% over the next 4 days, went through sideways accumulation action for about 10 days, and then ripped 140% over the next month.

It has been a bearish week, but in a bull cycle, these never last too long (unless they're major corrections of 50% like in May, which took 3 months to recover from as it broke the bull market structure). I've been through enough of these dips (and I've only been in this for 6 months!) to know that price always bounces when the market looks the most bearish (if it is a bull market), just like today.
Click to expand...
You could be right. What I sold were coins in profit and the way I see it is if we dip to 52k I have more cash to put out, if we dont drop further and I lose my position from selling then I will find new opportunities. I'm not prepared to put more cash into the market right now.
 
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